Harold Williams and George Williams announced that they have partnered with Dynasty Financial Partners to launch a newly independent firm called Precedent Wealth Partners.
Based in San Antonio, Texas, Precedent Wealth Partners will also introduce a unique program that enables clients to share in the success of the firm through a fee-rebate program called ‘WillShare’. They plan to open a Houston office in August.
“We launched Precedent Wealth Partners largely because we want to partner with our clients by creating an advisory entity that cannot easily be sold. We want our clients to feel they can count on our permanence and alignment with them,” said Precedent Wealth Partners’ co-founder Harold Williams. “Our WillShare program aligns the clients’ interests with that of the owners, as we plan to share 33% of our distributable after-tax net income with our clients, via fee credits every year. We don’t know of any firms out there that are doing anything like this – it’s a new precedent being established in the wealth management marketplace. We’re proud of what we’re doing, and we’re excited to get going.”
The team previously managed over $1 billion in assets at Linscomb & Williams, a Houston-based wealth management firm named to Barrons Top 100 in the most recent release.
Mr. Williams added, “We look to expand our message and grow organically rather than focus on growth through acquisition. All too often, RIAs launch and then begin a “race to sell” within the next 5-10 years, whether to private equity, a bank, or other buyers. This may not work out so well for the clients. We want to be different: we want our clients to feel they are treated like fellow-owners. Our WillShare program will foster that feeling and lay the foundation for an enduring firm which they can count on to stay committed to its principles for many years to come.”
“We welcome Harold, George and the whole Precedent Wealth Partners team to the Dynasty Network and we look forward to working with them in building out their firm,” said Shirl Penney, CEO of Dynasty Financial Partners.
The name ‘Precedent’ speaks to the firm’s passion for setting a new precedent in the field of financial advice. Precedent Wealth Partners is in the unique position of benefitting clients with a share of their after-tax profits.
Precedent Wealth Partners works with clients in the areas of investment management, wealth planning, estate planning, tax strategy, insurance/risk management, and retirement planning.
